EXHIBIT 11. STATEMENT RE: COMPUTATION OF EARNINGS PER
SHARE ON PRIMARY AND FULLY DILUTED BASES (Unaudited)
Eli Lilly and Company and Subsidiaries
Three Months Six Months
Ended June 30, Ended June 30,
1996 1995 1996 1995
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(Dollars in millions except per-share data)
(Shares in thousands)
PRIMARY:
Net income ................. $345.7 $327.1 $734.9 $720.3
Preferred stock dividends .. (1.7) - (1.7) -
Adjusted net income ........ $344.0 $327.1 $733.2 $720.3
Average number of common
shares outstanding ....... 547,277 578,568 546,796 578,346
Add incremental shares:
Stock plans and contingent
payments ............... 12,695 7,802 13,301 7,478
------- ------- ------ -------
Adjusted average shares .... 559,972 586,370 560,097 585,824
======= ======= ======= =======
Primary earnings per share . $ .61 $ .56 $1.31 $1.23
FULLY DILUTED:
Net income ................. $345.7 $327.1 $734.9 $720.3
Preferred stock dividends (1.7) - (1.7) -
Adjusted net income ........ $344.0 $327.1 $733.2 $720.3
Average number of common
shares outstanding ......... 547,277 578,568 546,796 578,346
Add incremental shares:
Stock plans and contingent
payments ............. 14,036 8,770 15,956 9,844
-------- ------- ------ ------
Adjusted average shares .... 561,313 587,338 562,752 588,190
======= ======= ======= =======
Fully diluted earnings
per share ................ $ .61 $ .56 $1.30 $1.22